DGAP-News: Aareal Bank AG / Key word(s): Acquisition
Aareal Bank Group completes acquisition of Corealcredit Bank AG (news
with additional features)
31.03.2014 / 18:01
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Aareal Bank Group completes acquisition of Corealcredit Bank AG
Wiesbaden, 31 March 2014 - Aareal Bank Group has completed the acquisition
of Corealcredit Bank AG announced on 22 December 2013. The purchase
was executed today and will become effective on 31 March 2014.
Corealcredit Bank AG is now a legally independent subsidiary under the
umbrella of Aareal Bank Group. The preliminary purchase price agreed with
the previous owner in the contract of December 2013 amounted to EUR342
million. In accordance with the provisions of the agreement, the purchase
price is subject to adjustments, the amount of which will now be calculated
as of the closing date of the acquisition.
With a view to the integration of Corealcredit Bank AG into Aareal Bank
Group, it is planned to agree a control and profit transfer agreement
shortly.
Dr Wolf Schumacher, Chairman of the Management Board of Aareal Bank AG,
stated: "We are pleased to welcome our new subsidiary Corealcredit Bank to
Aareal Bank Group. In recent years, Corealcredit Bank has successfully
realigned itself, strengthening its focus on its core business of
commercial property financing in Germany, and has been operating in the
black since 2007. We are taking advantage of this attractive opportunity
for inorganic growth and create value for our shareholders right from the
start. With this step, we will further enhance our position as commercial
property financing provider in Germany."
Contact:
Aareal Bank AG
Corporate Communications
Sven Korndörffer
Tel.: +49 611 348 2306
sven.korndoerffer@aareal-bank.com
Christian Feldbrügge
Tel.: +49 611 348 2280
christian.feldbruegge@aareal-bank.com
Heinrich Frömsdorf
Tel.: +49 611 348 2061
heinrich.froemsdorf@aareal-bank.com
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Aareal Bank AG,
Registered Office: Wiesbaden
Commercial Register: Amtsgericht Wiesbaden HRB 13184
Chairman of the Supervisory Board: Marija G. Korsch
Management Board: Dr. Wolf Schumacher (Chairman),
Dagmar Knopek, Hermann J. Merkens,
Thomas Ortmanns
End of Corporate News
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Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=ALFHOKVDKT
Document title: Aareal Bank Group completes acquisition of
Corealcredit Bank AG
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31.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Aareal Bank AG
Paulinenstr.15
65189 Wiesbaden
Germany
Phone: +49 (0)611 348 - 0
Fax: +49 (0)611 348 - 2332
E-mail: aareal@aareal-bank.com
Internet: www.aareal-bank.com
ISIN: DE0005408116
WKN: 540811
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart; Stockholm
End of News DGAP News-Service
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260777 31.03.2014
DGAP-News: Aareal Bank Group completes acquisition of Corealcredit Bank AG (news with additional features)
| Source: EQS Group AG